Bitcoin Forum

 ???

Loan Details:
Requesting: .05 BTC
Loan Length: 2 Weeks (Or Less)
Interest: 25%
Collateral: Neel_Sarwal will pay you back. He has .5 BTC (I have taken succsessful loans from him)

Thanks, MotoPaint12

(Professional MotoCross Racer)

 ;D Yes,

I have had 15 successful transactions with him.
But I am not giving out any more loans at the moment.
An yes I can pay the .05 +25% interest if he defaults.

SWAG
(Something We Asians Got)

Why are you talking to yourself on the two accounts above?

https://bitcointalk.org/index.php?topic=248377.msg3273109#msg3273109

Obvious multiaccounter is obvious

LOL
 ;)

I think you can file for disability payments for multiple personalities, and get more than .05btc, and not have to repay it....

SWAG. Not something you really want to admit having.

http://www.urbandictionary.com/define.php?term=swag

New members should never ask for loans unless they have kick ass collateral all lined up. Theres no way to not be labeled a scammer asking for any amount in the newbie section or if your account is new. Go to the lending forum and check out 95% of the loan requests and Tomatocage's/Vod's replies.

Assuming you aren't a scammer, this sort of thread makes people think you are. Confidence loans are frowned upon, and using the reputation of another new account also doing a confidence loan to back you up doesn't look especially good.



You don't need proof, you need collateral. No one cares if you are using multiple accounts or investing in Satoshidice with no way to pay back, as long as they have collateral to recover their losses if you default.

Then that means you could run off with the other 66% and then the better question is, why then ask for .03 BTC if you only need .02BTC as you already have .01, or why ask for a .03 BTC loan in the first place? The way collateral works, is you have to be able to send people something of value that can be used to recoup their losses if the person taking the loan defaults. For example, if you wanted a 2 BTC loan, you would have no problem getting that loan if you provided something worth 2.5BTC as collateral, that the person giving you the loan could sell to get their coins back if you defaulted.

ID and partial payments don't mean anything anymore, after people realized they were still getting scammed with people's full IDs. Going to court over a defaulted loan with someone across the country or in a different country over a Bitcoin loan made on an internet forum doesn't have the greatest chance of being awarded, so the only safe way to do loans now is with collateral. Now, if you have used the forum for a year or two, and you are looking for a .03 BTC loan, someone might give it to you based on the hope that your time spent building your account off is worth more than $4, however reputation based loans are never for any more than a few dollars, and taking loans solely to build your reputation is viewed as a scammer's activity.

So my advice to you, only request a loan that you actually need. Only request it if you have some form of collateral lined up, and be aware, if you don't have a valid reason for requesting the loan, valid collateral, and anything but an incredibly believable story, you can expect to be labeled a scammer immediately. Its not always fair, but thats how the forums have adapted to deal with people who are anonymous using an unreversable payment method.

Some frequent collateral mediums are: Litecoins (talk to TomatoCage) Virtual shares in companies like ASICminer, and anything of value that you can send to someone in the mail.

Might be hard for you to get a loan. ;)

^^ This ^^

How about this:

You send me a U.S. $10 bill in the mail along with a self-addressed stamped envelope.
When I receive it, I loan you 0.05 BTC.
When you pay back 0.0625 BTC, I send you back the same $10 bill in the envelope you provided.

If you haven't paid back 0.0625 BTC within 14 days, then:

I use the $10 to purchase bitcoins at the best rate I can negotiate.

I send you the remaining balance (if any) from the $10 bitcoin purchase after first subtracting the following:
The remaining balance of the loan.
A collection fee of up to 0.015 BTC.
0.0005 BTC paid to the bitcoin network as a transaction fee when sending you the transaction.
 

If he's going to pay 0.05 to the lender if you default, why don't you take the 0.05 from him?

Yes

im not even going to start why this dosnt work out... and im not in the mood to be handing out negative trust YET

come off a little less desperate and obvious next time.  ;)

just my little piece of advice. you can always throw it back!!  :)